Issue Date: Vol. 50, No. 12, December 2010, Posted On: 11/17/2010
Namco Bandai Cuts Losses
Namco Bandai, Namco, Namco Bandai earnings, video game, arcade video game, coin-op video game, coin machine
TOKYO -- Namco Bandai said it reduced its half-year losses to $23.8 million for the six months ended Sept. 30, compared with $74 million for the same period of the prior fiscal year. Net sales climbed to $2.13 billion for the second quarter ended June 30.
Following August's announcement that Namco Bandai would merge its mobile and online game divisions, the company's U.S. office laid off 90 employees to help affect this reorganization. A Namco Bandai spokesman said the company will export some projects from the San Jose, CA, office to the home office in Japan; a variety of game development projects will be outsourced to other companies.
Namco's U.S. coin-op sales and operations division, located in greater Chicago, was unaffected by the reshuffle.